Good morning. One of the biggest concerns investors have faced over the past few years has been...
It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.
 | | |  | DOW 34,189.97 | +0.64% | | | | | S&P 3,983.16 | +0.34% | | | | | NASDAQ 11,001.10 | +0.64% | | | | | *As of market close | | | • | Stocks traded higher on Thursday in choppy trading, as inflation data came in as expected. | | | • | Oil rallied 1.0 percent, last going for $78.17 per barrel. | | | • | Gold rose 1.2 percent, ending at $1,901 per ounce. | | | • | Cryptocurrencies rose, with bitcoin trading at $18,992 at the market close. | | | | | | | |
| | | Continue Following the Right-Sizing Trend | | | | Many companies expanded during the past few years, amid unprecedented government stimulus checks and easy money policies. Now, many companies have found that rapid growth is a bit more elusive over the long haul. They're cutting back on employees.
That trend is right-sizing companies that may have over-expanded on employees in recent years. That's been seen primarily with big tech. But the current slowdown is also starting to be seen with financial companies as well.
» FULL STORY | | | | |
| | Insider Trading Report: Augusta Gold (AUGG) | | | | Augusta Investments Inc., a major owner of Augusta Gold Corp (AUGG), recently purchased 20,000 additional shares. The fund owns over 22 million shares, and the latest buy increased their holdings by less than 1 percent at a cost of just over $28,500.
The fund last bought shares in August, picking up 10,000 shares for just under $11,000. The fund bought shares on over two dozen occasions in the last year. Going further back, company insiders were buyers of shares in early 2021.
» FULL STORY | | | | |
| | Unusual Options Activity: Riot Blockchain (RIOT) | | | | Shares of cryptocurrency miner Riot Blockchain (RIOT) have lost nearly three-quarters of their value in the past year, but have risen in recent sessions as cryptos have trended higher. One trader sees shares moving lower in the next month.
That's based on the February $5 puts. With 35 days until expiration, 10,021 contracts traded compared to a prior open interest of 195, for a 51-fold rise in volume on the trade. The buyer of the puts paid $1.15.
» FULL STORY | | | | |
| | • | Inflation Drops for Sixth Straight Month
Inflation rates fell to a 6.5 percent year-over-year rate for the 12 months ending in December. That's the sixth month in a row to show declining inflation rates. The level is still far higher than the Fed's target of 2 percent annually, but the central bank has slowed down its pace of interest rate hikes. | | | | • | Auto Sales Decline as Profits Expand
The US auto industry posted its worst sales year since 2011, with only 13.7 million vehicles sold. That's an 8 percent drop compared to the prior year, and far under the 17 million sold each year between 2015 and 2019. However, amid declining sales, companies are reporting increased profitability on the vehicles sold. | | | | • | American Airlines Sees Improved Revenues and Profit
American Airlines (AAL) sees its fourth-quarter revenue to be as much as 17 percent higher compared to the same quarter in 2019, the last year before the pandemic. That's an increase from a previous estimate of 11-13 percent higher. It's a sign that the sector is improving on profitability after contending with the pandemic and changes in travel trends. | | | | • | Largest US Restaurant Chain Mulls Sale
Subway, the sandwich chain with the largest number of locations in the United States, is looking to potentially sell itself. The company, which is privately held, could be worth as much as $10 billion, a price that would allow a number of corporate or private equity funds to buy the company in whole or in part. | | | | • | Bankman-Fried Denies Stealing FTX Funds
FTX founder Sam Bankman-Fried stated that he has not stolen any funds from FTX, in a posting that he made from his newly-launched Substack newsletter. The former CEO of FTX is currently facing 8 counts of criminal charges in US courts. | | |
| | | | TOP | | | AAL | 10.007% | | | | MELI | 9.631% | | | | UAL | 6.969% | | | | CTSH | 5.577% | | | | RCL | 5.574% | | | | BOTTOM | | | CRL | 5.52% | | | | ILMN | 5.381% | | | | TECH | 5.23% | | | | HPE | 3.43% | | | | DPZ | 3.196% | | | | |
| | |  | | As we get closer to the end of this interest rate hike campaign that the Fed is doing, tech stocks should rally. Let's just face it: Last year they got creamed, so there are investors that want to pick up some bargains. | | - Gina Bolvin, president of Bolvin Wealth Management Group, on why investors should expect tech stocks to move higher this year, although such a move likely won't start until the Fed stops its current policy of raising interest rates. | |
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